Research before buying foreign property investment

There is so much to take into consideration when looking at making a foreign property investment.

However, by far the most important thing to bear in mind is the carrying out plenty of research into the location.

Director at estate agents Douglas & Gordon Ed Mead offered a few of his own tips for any individuals who are in this position.

Speaking to the Daily Telegraph, he said that it could be a good idea to have a look at where chain stores like Starbucks and Waitrose are opening up new outlets.

He explained that by finding out where that kind of firm is planning the introduction of new stores is often a good way to cut out some unnecessary legwork.

This is because those organisations have typically carried out extensive research into where they wish to operate, therefore investors will easily be able to take advantage of it being a property hotspot.

It was acknowledged that some experts might consider investors to be better off sticking to areas they already know about, as very little price growth is expected over the next few years.

However, Mr Mead had an extra piece of wisdom on this topic. "Simple rule. Always buy the worst in the best street," he remarked.

In terms of the more desirable locations, president elect of the National Association of Estate Agents and partner at Arnolds Keys Jan Hytch said: "The uber-chic new location of 2009 is the slightly shabby second-choice location for 2013. Hotspots don’t stay the same for long."

"Quirky becomes trendy and the cool set move in," the expert commented, adding: "The skill of the buy-to-let investor is to map supply and demand and to predict emerging trends."

Indeed, while empty apartments have been left in Leeds, Manchester and Liverpool following a bubble a few years ago, Bristol is currently highly desirable.